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Foreign
Currency Fixed Deposit Account
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With the current low yield from Singapore
dollar fixed deposits, interest in foreign
currency fixed deposits has been steadily
growing. Our Asian Currency Unit (“ACU”)
allows both individuals and corporations
to make a wide range of foreign currency
fixed deposits. |
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Higher Return with
Potential of Risk Hedging
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In general, ACU deposits offer higher
interest rates than Singapore dollar fixed
deposits, thereby enabling investors to
enjoy higher returns on their investments.
There is also greater potential for further
capital gains due to favourable movements
in exchange rates, making such deposits
highly appealing to more adventurous investors.
In addition, ACU deposits can be used
as a means to minimise any risk of adverse
exchange rate movements. Individuals who
are required to make future payments in
foreign currencies can use this facility
to lock in the exchange rates and at the
same time earn higher returns from their
deposits. |
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Choice of Terms
and Currencies
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We offer a choice of
deposit terms, ranging from 1 week
to a maximum of 12 months, at competitive
interest rates.
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We offer fixed deposits
for a wide variety of foreign currencies,
including: |
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Australian dollar |
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British pound |
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Canadian dollar |
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Euro |
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Hong Kong dollar |
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Japanese yen |
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New Zealand dollar |
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Swiss franc |
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US dollar |
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A minimum placement amount
of US$5,000 (or its equivalent) is
required, for tenors of 1 month and above. |
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For deposit renewal
and withdrawal, customers are required
to give us the instruction two working
days in advance. |
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Foreign Currency
Call Deposit
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To better serve customers who need to
make payments in the future, but on a date
that is unknown, we offer ACU deposits on
a call basis. Such deposits are similar
to savings deposits, allowing our customers
to enjoy both high returns and liquidity.
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Customers must place a minimum amount
in a foreign currency as specified below:
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Currency
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Minimum
Amount |
| Australian
dollar (AUD) |
10,000 |
| British
pound (GBP) |
5,000 |
| Canadian
dollar (CAD) |
10,000 |
| Euro (EUR) |
10,000 |
| Hong Kong
dollar (HKD) |
50,000 |
| Japanese
yen (JPY) |
1,000,000 |
| New Zealand
dollar (NZD) |
10,000 |
| Swiss
franc (CHF) |
10,000 |
| US dollar
(USD) |
50,000 |
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Exchange Risks
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Customers should be aware of conversion between currencies involves exchange rates which are subject to fluctuations. If you have used funds in another currency to place the Foreign Currency Fixed Deposit, you may receive an amount less than your original amount of such funds upon conversion of your Foreign Currency Fixed Deposit back to that other currency. In addition, you may be subjected to foreign exchange controls which may be imposed from time to time.
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Enquiries
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